Bitcoin, Ether treasuries have ‘ghosted’ since the crypto crash

According to Coinbase Institutional's David Duong, public companies that hold Bitcoin and Ether as corporate treasuries have significantly reduced or stopped their asset accumulation since the market crash around October 10th. Duong noted that Bitcoin buying by Digital Asset Treasury (DAT) companies fell to near year-to-date lows and has not recovered, even on positive trading days, suggesting limited confidence from these typically heavy buyers. The slowdown highlights caution among large players following a leverage washout. The exception is Ether treasury company BitMine Immersion Technologies, which has been the only consistent buyer, spending over $1.9 billion to acquire nearly 483,000 ETH since the crash. Duong warned that if BitMine pauses its buying, the corporate bid could fade, making the market appear more fragile as the largest discretionary balance sheets remain sidelined.

(Source：Cointelegraph)